The Hourly View for XRP
Last Updated December 22, 2020, 07:017 GMT
At the moment, Ripple’s price is up $0 (0.06%) from the hour prior. Ripple has seen its price go down 24 out of the past 30 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Ripple Daily Price Recap
Ripple came into today down 7.5% ($0.0417) from the open of the previous day, marking the 3rd straight day it has gone down. As for how volume fared, yesterday’s volume was up 12.37% from the previous day (Sunday), and up 141.07% from Monday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 5th for the day in terms of price change relative to the previous day. The daily price chart of Ripple below illustrates.
Ripple Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Ripple’s price has gone down 6 of the previous 10 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ripple:
- From bgarlinghouse:
We know crypto and blockchain technologies aren’t going anywhere. Ripple has and will continue to use XRP because it is the best digital asset for payments – speed, cost, scalability and energy efficiency. It’s traded on 200+ exchanges globally and will continue to thrive. (2/3)
- From Kevin_Cage_:
Let the FUD continue. I don’t care.*If* we see XRP go under 30 cents or even lower in 2021, I double my stacks…again like last time.The majority think 40 cents is the bottom. That’s fine for me tooLet’s get this show on the roadHowever, I prepare for the worst case 😉
- From RaoulGMI:
Thought: Let’s say a start up, like $FB back in the day, raised funding on a dodgy idea, let’s say they got traction and the idea didnt look so dodgy so they raised more cash via equity but lets say they agree to an limit on the equity issuance. Is that wrong? XRP (no view).
As for a news story related to Ripple getting some buzz:
Ripple CEO Warns SEC May Sue Company Over XRP Sales – CoinDesk
The U.S. Securities and Exchange Commission (SEC) intends to sue Ripple over its sale of XRP, CEO Brad Garlinghouse said Monday….“It’s an attack on the entire crypto industry and American innovation,” Brad Garlinghouse said in an emailed statement….In fact, the Justice Department and the Treasury’s FinCEN already determined that XRP is a virtual currency in 2015 and other G20 regulators have done the same.
